Friday Feature - Process and Don't Complete at Year End
Last week, we talked about releasing and completing documents from the Year End Closing list. This week, let’s talk about its opposite, “process and don’t complete.” We have a lot of customers that like this feature for leases and other ongoing expenses, what I like to call multi-year requisitions. This is where you want the PO number to stay the same year after year, but you want to add money to it each year. In this case, there’s no carryover from year to year, so no over-encumbering. In other words, the requisition is carried over with zero dollars so that each year has its own amounts (and encumbrances). Let’s take a look.
Notice that the requisition has no accrual, no carryover, and no release amount.* Also notice that the Complete flag is set to NO. What this is going to do is carryover the requisition to the new year without unencumbering or encumbering anything.
Why would you want to do this?
Let’s take a look at an example from a LIVE customer. This is a requisition for legal consultation. It has eight line items starting on 8/5/2013 all the way to 10/1/2018 (look at the red arrows). Basically, this customer adds a line item every time the lawyer requires a new retainer, making payments against the retainer over the course of the year.
You’ll notice that I also highlighted several areas on the screen capture: fiscal year, payments, and approvals. Let’s discuss these one at a time:
Fiscal Year 2020. I highlighted this so that you could see that it was carried over from the first screen capture. This requisition has been in existence since 2014 (notice the requisition number starts with R14, which indicates fiscal year 2014).
102 Payments. This shows the power of Escape Online. Over the course of five years, the lawyer has been paid 102 times. This is all held in a single requisition, making reconciliation of billable time easy.
68 Approvals. If you are like me, I wondered how you manage approvals for a requisition that keeps having line items (and money!) added. Well, every time you add a line item or change an amount, the requisition goes through the approval process again, as defined by the workflow definition. This re-approval process keeps everyone on the up-and-up and makes auditors very happy.
This feature is a direct result of discussions with Ventura COE. As always, our customers help us make the software work for school business!
* The trifecta of zeroes is the key to this feature. There is no outstanding balance, so there is nothing to carryover, accrue, or release. If you have any funds left on the requisition in the current fiscal year (the outstanding balance is not zero), the year-end process has a different set of logic: the requisition must be accrued or carried over with the remaining funds OR released and completed. In other words, you cannot release all funds AND carryover the requisition to the new year with a zero balance.